Despite extensive planning and careful due diligence, Travis and Susan started to question whether the financial advice they had received was in their best interests.

After several years of having a financial firm manage his SMSF, Hugo decided to take back control and look after it himself. As he began going through the details of his account, he discovered that two of the funds in which he held significant investments had been frozen in 2020 and were now essentially worthless.

Carly's SMSF was managed by the same firm since 2012 and trusted their advice.  In 2023, an authorised representative of the firm recommended she invest $50,000 in a high-yield fixed interest account. Carly soon learned the firm had no record of her investment.

Donna and her husband, Theo, were in their mid-forties when they decided to meet with an adviser they had known for several years. “I’d worked with Simon as a contractor long enough to have a fair idea of his business practices, and everything seemed above board and legitimate. I had no reason not to trust him,” explained Donna.

Liam engaged a financial firm in 2016 to obtain brokerage advice and other ad-hoc financial services.  Around this time, the firm presented Liam with an opportunity to invest almost $100,000 in a capital raising exercise, advising that the company would list on the Australian Stock Exchange (ASX) within 24 months. 

Andrea and Doug decided that it was time to start thinking seriously about their retirement. They met with an adviser who informed them that by moving their superannuation out of their industry fund and into a self-managed superannuation fund (SMSF) they would retire with a higher balance.